As expected Bumper Q2 results
NII inc of 58 % yoy, 13 % qoq
PBT & PAT up 280 % yoy and 30 % qoq
Net NPA 0.01%, one of the best in NBFC
This is turning out to be fasted growing NBFC now with a very capable management.
Actually best play on cyclcial, turnaround and growth stock. Quality of growth is excellent.
Expected BV fy 15 170, fy 16 220, IMHO it desrves 3 time P/B, can head towards 700 in next 1 yr. with rate cycle probably turning from Feb RBI Policy, these high beta cyclical NBFC can really outperform the mkt and other financials. Capital adequacy is 21 %, Co will be raising 300 Cr thru QIP, at a huge premium to BV, will further raise CAR and BV.on P/B it is still quite cheap !
Disc : Invested for next 3 yrs.
Corp presentation on Q2 is attached for further details